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In 2009, the Recovery Act boosted monthly benefits for SNAP. The resulting increase in spending on SNAP benefits from 2009 to 2013 was greater than CBO had estimated. This report discusses that underestimate and the reasons for it.
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In this report, CBO assesses the usefulness of cash and accrual accounting for several federal insurance programs—including deposit, flood, and pension insurance—and considers ways to increase use of accrual measures in the budget process.
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In its June 2017 projections, CBO overestimated federal outlays and revenues for fiscal year 2018 by 1.7 percent and 1.2 percent, respectively. The projected federal budget deficit for 2018 was 3.7 percent more than the actual amount.
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CBO periodically issues a volume of options—this year’s installment presents 121—that would decrease federal spending or increase federal revenues. CBO’s website allows users to filter options by topic, date, and other categories.
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CBO projects that the annual cost (in 2018 dollars) of replacing the aircraft in the current fleet, essentially one-for-one, would average $15 billion in the 2020s, $23 billion in the 2030s, and $15 billion in the 2040s.
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The federal budget deficit was $303 billion for the first two months of fiscal year 2019, CBO estimates, $102 billion more than the deficit recorded during the same period last year.
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The share of international affairs funding that was provided outside of agencies’ base budget for ongoing activities—that is, “nonbase” funding—increased markedly from 2014 to 2017, mostly for overseas contingency operations.
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This report explains the changes to CBO’s long-term Social Security projections since last year and compares CBO’s projections with those of the Social Security Trustees.
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In fiscal year 2018, the budget deficit totaled $779 billion—$113 billion more than the shortfall recorded in 2017. Measured as a share of GDP, the deficit increased to 3.8 percent in 2018, up from 3.5 percent in 2017 and 3.2 percent in 2016.
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CBO analyzes how the Defense Department’s (DoD’s) funding for military conflicts has changed over time and how the separate budgetary treatment of that funding affects perceptions of DoD’s spending and the anticipated costs of DoD’s plans.